We examine the determinants of multinational firms’ propensity to conduct R&D activities in host countries, with specific attention to the influence of host countries’ university research. We consider heterogeneous locational drivers related to the type of R&D activity: basic research,...

What is the driving force of the macroeconomic fluctuations in Japan over the past forty years? To answer this question, we specify a structural vectorerror-correction model using combination of long-run and short-run restrictions. Especially by dividing the supply shocks such as neutral and...

Although geography has been considered as an important factor in international trades, the spatial heterogeneity has not been fully investigated in the regression of the standard gravity models. This paper contributes to the literature by investigating how the gravity in bilateral trades works...